Original version
New perspectives on structural change : Causes and consequences of structural change in the global economy. 2021, DOI: https://doi.org/10.1093/oso/9780198850113.003.0007
Abstract
This chapter interprets the transition to a more sustainable type of growth as a technological revolution in progress. The chapter opens with a general discussion of the role of technological revolutions and structural change and economic growth, with special emphasis on the acquisition of foreign technology, exports, and catching-up-based growth. It then goes on to examine whether the transition to renewable energy can be seen as a technological revolution in line with the great technological revolutions of the past. The answer to this question is in the affirmative. The final section discusses the implications of this for catching-up-based growth in China and other developing countries.